Deere & Co. (DE) reported stronger-than-anticipated third-quarter results, exceeding revenue and earnings estimates. Despite a year-over-year sales decline, the company maintained its 2024 net income outlook and outlined expectations for key business segments. Analysts responded positively to the results, adjusting their price targets for Deere stock.
Rocket Lab shares are experiencing a surge in pre-market trading following the successful shipment of two Mars-bound spacecraft for NASA’s ESCAPADE mission. The news comes on the heels of strong Q2 earnings, demonstrating the company’s continued growth and demand for its launch services and space systems products.
Madison Square Garden Entertainment Corp (MSGE) saw a strong finish to its fiscal year, reporting a 26% year-over-year revenue increase and exceeding analyst expectations. This growth was driven by a robust concert lineup, the successful Christmas Spectacular, and higher food and beverage sales at sporting events.
Applied Materials, a leading chip equipment manufacturer, reported strong third-quarter results, exceeding revenue and earnings expectations. The company also raised its fourth-quarter revenue and earnings guidance, citing strong demand driven by the race for AI leadership. Analysts responded positively to the news, with several raising their price targets on the stock.
Walmart exceeded analysts’ expectations for the second quarter, reporting strong earnings and sales growth. The company also raised its full-year guidance, indicating optimism about future performance. This positive news led to a surge in Walmart’s stock price, and analysts increased their price targets for the company.
Coherent Corp. (COHR) reported strong fourth-quarter earnings, beating analyst expectations on both earnings per share and revenue. The company also provided an optimistic outlook for the first quarter of fiscal year 2025, leading to a significant rise in its stock price. Several analysts have raised their price targets for Coherent following the positive earnings announcement.
Greenland Technologies Holding Corporation (GTEC) shares soared in pre-market trading after exceeding second-quarter earnings expectations. Other notable movers include Cingulate Inc. (CING), Seelos Therapeutics (SEEL), and Shimmick Corporation (SHIM).
Stellantis, the automaker, is facing a lawsuit from shareholders accusing them of misleading investors about inventory levels and financial performance. The lawsuit alleges that the company inflated its stock price with positive statements about its business, despite declining earnings and operating margins. Stellantis denies these allegations and plans to fight the lawsuit.
Madison Square Garden Entertainment Corp. (MSGE) is set to release its fiscal fourth-quarter earnings on Friday, August 16th. Analysts predict a quarterly loss but expect revenue growth compared to the previous year. The company’s recent performance and analyst ratings suggest a mixed outlook for the stock.
The US stock market saw positive momentum on Thursday, with the S&P 500 gaining for the sixth consecutive day. Positive economic data, including strong retail sales and a decline in jobless claims, fueled the rally. Key earnings releases from Walmart and Cisco also contributed to the upbeat market sentiment. However, the CNN Money Fear & Greed index, while showing improvement, remained in the ‘Fear’ zone, indicating that investors are still cautious.
